The Japan Business Federation (Keidanren) is too conservative and too reluctant to carry out drastic reforms that may threaten big-name firms but in the process boost the nation's international competitiveness, and that's why online retailer Rakuten Inc. plans to leave the group, according to company President Hiroshi Mikitani.
During a program streamed live by Nico Nico Douga on Thursday, Mikitani cited the so-called Galapagos syndrome, saying Japanese businesses are too comfortable focusing on the domestic market and should instead act boldly to develop overseas markets.
"It seems Keidanren is either trying to protect everything about 'Galapagos' or doesn't have the courage to (adopt reforms)," said Mikitani, 46, known as an influential entrepreneur especially with the younger generation.
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